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Variable Rate HELOC

Simply the lowest variable rate possible.

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Meet Your Home Equity Expert

A seasoned home loan professional, ready to act as your home equity advocate.

801-223-7650 | [email protected]
or send us a secure message from within online & mobile banking.

Available M–F 8am–6pm, and Sat. 9am–2pm

Your house isn’t just a home. It’s an investment.

With the lowest variable rate and longest draw period, it may come as no surprise that Variable Rate HELOCs are the most popular choice of most homeowners.  

UCCU offers both 15 and 20 year terms for HELOCs with variable rates.


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How a Variable Rate HELOC Works

A Variable Rate HELOC provides the lowest variable rate possible, the lowest principle and interest payments, and the longest draw period – allowing a homeowner to draw from their equity, anytime, for 10 years. When draw period ends, payments are amortized so that the monthly payment remains the same (unless the variable rate changes, at which point the payment will adjust) throughout the remainder the repayment period (15 years or 20 years, depending on the agreement). 

Who Should Get One?

There are many reasons homeowners get HELOCs, such as making repairs, remodeling their homes, and paying off higher interest debt. Variable Rate HELOCs are the most popular choice for most homeowners, accounting for more than 70% of all HELOCS. If you’re a homeowner considering a HELOC, there’s a good chance a variable rate will be right for you.

Let’s help you determine which HELOC is best for you…

* Annual Percentage Rate=APR. After the initial fixed rate period, your APR will convert to a variable rate and vary with the Prime Rate as published in the Wall Street Journal. As of July 1, 2016 UCCU’s margin above Prime on 1st lien position is 0.35% – 2nd lien position is 0.85%. During the variable rate period, the interest rate will not vary above 18% APR nor below 3.74% APR. Initial fixed rate option cannot be combined with any other loan offer or cash back rebate. 
**Property insurance is required. Consult your tax advisor regarding the deductibility of interest. Fee reimbursement for appraisal and title work apply if loan is paid off and closed within 24-months of the note date. Some restrictions may apply. Offer is subject to change without notice. On approved credit. Membership eligibility required. Equal Housing Lender. NMLS # 407653. Federally insured by NCUA.

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